New Delhi, June 22 -- Gold prices are expected to rise sharply as fresh geopolitical tensions in the Middle East increase global uncertainty, market experts said on Sunday.

The US airstrike on Iranian nuclear facilities has triggered concerns among investors, pushing them towards safe-haven assets like gold.

On Friday, gold prices had initially fallen, as markets hoped that US President Donald Trump might opt for diplomatic talks instead of military action.

However, prices quickly bounced back by the end of the day in New York. The long lower shadow on the daily chart indicated that traders were already bracing for a possible escalation over the weekend.

Experts believe gold could trade in the range of $3,500 to $3,700 in the coming w...